Moscow Exchange operations in the interests of non-residents

In order to reduce liabilities arising from transactions made before February 28, 2022 (inclusive) on the Moscow Exchange in the interests of non-residents, who are entities of foreign states engaged in unfriendly actions, the Bank of Russia issued a permit to Moscow Exchange, the National Clearing Center (NCC) and the National Settlement Depository ( NSD), to carry out the following operations from March 21 through April 1, 2022:

• clearing and fulfillment of obligations following the results of clearing with the possibility of conducting the necessary transactions in cases of non-fulfillment or improper fulfillment of obligations by the participant;
• implementation of actions aimed at oncoming the date of fulfillment of obligations;
• conclusion of trades for the purpose of transferring (prolonging) obligations of clearing participants and their non-resident clients;
• closing positions by concluding purchase and sale transactions;
• conclusion of closing deals;
• making settlements on transactions necessary to terminate obligations under said transactions, as well as transactions related to them, including transactions resulting from the transfer of obligations under initial transactions;
• transfers of securities based on the results of clearing on depo accounts of depositors' depositories.

The permission implies the possibility for market participants to carry out operations on the exchange aimed solely at reducing the obligations of their clients who are entities of foreign states that carry out unfriendly actions.

The rest of the operations of professional trading participants in the interests of all non-residents must be carried out exclusively using the type "C" accounts.

Previously, restrictions on transactions by non-residents were determined by decrees of the President of the Russian Federation.